Amgen Signs a Deal to Buy Immunex;
Pact Could Inspire More Consolidation

By

Robin Sidel and

David P. Hamilton Staff Reporters of The Wall Street Journal

Updated Dec. 17, 2001 7:25 a.m. ET

Amgen Inc., the world's biggest biotechnology company, announced it signed an agreement to buy Immunex Corp. for about $16 billion in cash and stock in a deal that was expected to accelerate industry consolidation.

The transaction calls for Amgen to pay about $30 a share for Immunex. About 85% of the purchase price would be in Amgen stock, with...